Cantor Fitzgerald restated their buy rating on shares of ExlService Holdings, Inc. (NASDAQ:EXLS) in a report issued on Tuesday. The firm currently has a $59.00 price target on the business services provider’s stock.
“Two large addressable markets. EXL operates in two business segments: Operations Management and Analytics. Industry body Nasscom projects the global Operations Management sourcing market to grow to over $225 bn by 2020, at an annual pace of 6-7%. EXL targets mid-to-high single-digit growth for this business. Nasscom estimates the market is only 20-25% penetrated.”,” the firm’s analyst commented.
EXLS has been the topic of a number of other research reports. Zacks Investment Research cut ExlService Holdings from a hold rating to a sell rating in a research note on Friday, March 24th. Wells Fargo & Company reiterated a market perform rating and issued a $50.00 price target (up previously from $48.00) on shares of ExlService Holdings in a research note on Tuesday, May 23rd. Finally, Cowen and Company reiterated an outperform rating and issued a $54.00 price target on shares of ExlService Holdings in a research note on Tuesday, April 11th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. ExlService Holdings has an average rating of Buy and a consensus target price of $55.00.
Shares of ExlService Holdings (EXLS) traded up 1.25% during midday trading on Tuesday, reaching $54.06. The company’s stock had a trading volume of 23,474 shares. ExlService Holdings has a 52 week low of $42.00 and a 52 week high of $54.78. The firm’s 50 day moving average is $51.48 and its 200 day moving average is $48.46. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of 28.91 and a beta of 1.36.
ExlService Holdings (NASDAQ:EXLS) last issued its quarterly earnings data on Tuesday, May 2nd. The business services provider reported $0.60 EPS for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.14. The company had revenue of $183.03 million for the quarter, compared to analysts’ expectations of $176.96 million. ExlService Holdings had a return on equity of 13.59% and a net margin of 9.22%. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.56 earnings per share. Equities analysts forecast that ExlService Holdings will post $2.57 EPS for the current fiscal year.
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In other news, CFO Vishal Chhibbar sold 841 shares of the company’s stock in a transaction that occurred on Thursday, May 4th. The stock was sold at an average price of $49.50, for a total transaction of $41,629.50. Following the completion of the transaction, the chief financial officer now directly owns 14,977 shares of the company’s stock, valued at $741,361.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Rohit Kapoor sold 9,757 shares of the company’s stock in a transaction that occurred on Thursday, April 13th. The shares were sold at an average price of $46.04, for a total value of $449,212.28. The disclosure for this sale can be found here. Over the last three months, insiders sold 252,460 shares of company stock valued at $12,129,623. 5.94% of the stock is owned by corporate insiders.
Several institutional investors have recently bought and sold shares of EXLS. BlackRock Inc. raised its position in ExlService Holdings by 145,337.4% in the first quarter. BlackRock Inc. now owns 3,986,440 shares of the business services provider’s stock valued at $188,797,000 after buying an additional 3,983,699 shares during the period. Vanguard Group Inc. raised its position in ExlService Holdings by 4.9% in the first quarter. Vanguard Group Inc. now owns 2,887,499 shares of the business services provider’s stock valued at $136,752,000 after buying an additional 135,087 shares during the period. Aberdeen Asset Management PLC UK raised its position in ExlService Holdings by 16.1% in the first quarter. Aberdeen Asset Management PLC UK now owns 1,168,591 shares of the business services provider’s stock valued at $55,344,000 after buying an additional 162,445 shares during the period. Dimensional Fund Advisors LP raised its position in ExlService Holdings by 1.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,160,228 shares of the business services provider’s stock valued at $54,948,000 after buying an additional 13,416 shares during the period. Finally, Mackenzie Financial Corp raised its position in ExlService Holdings by 49.7% in the first quarter. Mackenzie Financial Corp now owns 1,022,878 shares of the business services provider’s stock valued at $48,444,000 after buying an additional 339,521 shares during the period. 95.03% of the stock is owned by institutional investors.
About ExlService Holdings
ExlService Holdings, Inc is an operations management and analytics company. The Company segments include Insurance; Healthcare; Travel, Transportation and Logistics; Finance and Accounting (F&A); Analytics, and All Other. The Insurance operating segment serves property and casualty insurance, life insurance, disability insurance, annuity and retirement services companies.
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